Introduction to Operational Risk Management



An operational risk is defined as: "the risk of direct or indirect loss resulting from inadequate or failed internal processes, people and systems or from external events" (IRM). This 3 day practical workshop explores the best practice in operational risk management, at all stages: from assessment to implementation. You will gain tools to manage risk and to create environment where this function is perceived as a value added proposition increasing profitability and structural strength of an organisation.

This workshop will also introduce delegates to the basics of Operational Risk Management in all industries (Financial, Health and Safety, Energy etc.) and clarify the distinctions between Operational risk and other types of risk including Compliance and HSE.

Target Audience

Business Manangers, Health and Safety officers, Risk Analysts, Health Care workers.

Learning Objectives

By attending this workshop, participants should be able to:

  • Consider the adequacy of existing operational risk control frameworks
  • Conduct an operational risk assessment
  • Implement enhancements to increase productivity and efficiency levels
  • Consider the relationship between operational risk and other key risks and reflect on functional roles and responsibilities
  • Identify what is going wrong or can go wrong in their organisation and implement controls to mitigate.
  • Use ORM tools in their workplace
  • Appreciate the latest practical ORM concepts

Programme Outline

Topics to be covered in these 3 days include:

  • Distinguishing operational risk
  • What is operational risk in 2013 and beyond?
  • Demonstrating how ORM can aid in improving efficiency and productivity levels
  • Using ORM to identify and manage your risks
  • Risk assessment and measurement
  • The consequential effects of poor ORM
  • Governance and oversight
  • Operational risk lifecycle:
    • Identification
    • Assessment
    • Control
    • Monitoring and reporting
  • Risk appetite and risk tolerance
  • Scenario analysis
  • Case studies
  • Group exercises

Facilitator: Mr. Ken Hackshaw 

Ken returned to Trinidad and Tobago in 2008 and serves as Managing Director and lead consultant at KHBC Limited, a risk management consulting company. He is also a lecturer/facilitator in risk management and performance management workshops.

Ken's career was built over the last 23 years working in the US and London in the field of Operational Risk Management, International Operations, and Business Process Re-engineering. An organisational change architect and Operational Risk Practitioner, Ken's highlights include:

  • Senior Risk Analysts, Depositary Trust and Clearing Corporation, New York. Assisted in the development and implementation of Enterprise Risk Management (ERM) methodologies to track, document and report on risk trends and internal controls. Conducted risk assessments for all subsidiaries of the company. Worked closely with New York State Banking authorities, Federal Reserve Bank and Securities Exchange Commission.
  • Vice President, Deutsche Bank, worked in both the New York and London offices as Operations Manager for International Securities Processing and Settlement, Product Management and Risk Management.
  • Vice President, Electronic Data Systems (EDS), Senior Operations Manager, Cash Management Services, Business Continuity Planning and Risk Management.
  • Vice President, Bankers Trust Company, New York, Head of International Operations and Securities Processing and Settlement.

Ken holds a Bachelor of Science degree in Business Management, a Diploma in Law from the University of London and advanced training and certification in Operational Risk Management, International Securities Processing and Project Management. Ken is currently pursuing his LLB in law through the University of London.

Ken is a member of the Risk Management Association (RMA) and the Global Association of Risk Professionals (GARP) in the United States and has spoken at conferences on Operational Risk Management and the use of Key Risk Indicators (KRI's) in identifying operational risks. He is also a member of the Institute of Internal Auditors (IIA). Ken has developed and facilitated risk management workshops at the training and development centre at the Arthur Lok Jack Graduate School of Business and other institutions. Ken is also a part time faculty member of The International Governance and Risk Institute.


Date View Event Calendar
Time 8:30 pm – 4:30 pm
Duration 3 Days
Cost TT $3,800.00 (inclusive of training materials, refreshments and Certificate of Participation) 
Please note that prices are subject to change without notice.
Venue Arthur Lok Jack Graduate School of Business
Max Richards Drive,
Uriah Butler Highway, North West,
Mt. Hope


Tel: 645-6700
Fax: 662-1411


Kavita Seeraj-Nagassar ext. 132
Lisa Ramrattan ext. 343



Certificates will only be issued to participants who have attained a minimum attendance rate of 75% for the duration of the course.

Course Cancellation/ Reschedule Policy

Arthur Lok Jack GSB (ALJGSB) reserves the right to cancel training at any time. If ALJGSB cancels the training due to unforeseen circumstances beyond the control of ALJGSB, you are entitled to a full refund of the course fee, or your course fee can be credited toward a future training, based upon availability (providing payments have been made before original advertised date).

ALJGSB reserves the right to reschedule training at any time. If ALJGSB reschedules training due to unforeseen circumstances beyond the control of ALJGSB, the training will take place at the next available time. Participants will be informed via phone and/or e-mails.



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